John Davies, Just Loans Group chief executive, added: “I don’t believe that traditional banks and alternative lenders are in competition with each other as they share the common aim of helping UK businesses invest and grow.

“We see the future as traditional banks and alternative lenders increasingly working in partnership with each other. Aligning ourselves with the BBA – the voice of banking in the UK – is a great way to accelerate this and share experiences to date that come from a sole focus on business lending and innovative fintech investments.”

The Just Loans Group entered the alternative finance sector in 2012 with the aim of building a robust, scalable, anti-money laundering compliance process for corporate borrowers in the UK and Europe.